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Precious metal funds dominate after gold price surge

Gold Investments

Investors see money almost double in first seven months of 2016, say analysts.

A gold price surge has pushed precious metal funds to the top of this year’s performance charts, reports the Financial Times.

Having fallen by 40 per cent from a 2011 peak of $1,920 an ounce in the closing months of 2015, gold has risen by 25 per cent so far this year to above $1,330 an ounce, defying predictions it would tumble to below $1,000.

Other precious metals have also performed well. Funds that in one way or another seek exposure to these hard commodities now make up "all 10 best-performing mutual funds in both the US and Europe".

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